Financial highlights for Q1 2024 of the Group
+------------------+----------------+-------------------+-----------------+
|TDKK              |Q1 2024         |Q1 2023            |2023             |
+------------------+----------------+-------------------+-----------------+
|Revenue           |15              |211                |1,266            |
+------------------+----------------+-------------------+-----------------+
|Other operating   |214             |214                |1,395            |
|income            |                |                   |                 |
+------------------+----------------+-------------------+-----------------+
|EBITDA            |-1,316          |-2,496             |-7,299           |
+------------------+----------------+-------------------+-----------------+
|Profit/loss for   |-2,601          |-3,722             |-13,405          |
|the period        |                |                   |                 |
+------------------+----------------+-------------------+-----------------+
|Cash and cash     |3               |774                |434              |
|equivalents       |                |                   |                 |
+------------------+----------------+-------------------+-----------------+
|Equity            |2,382           |9,327              |4,020            |
+------------------+----------------+-------------------+-----------------+
|Equity ratio (%)  |18.6%           |46.1%              |27.9%            |
+------------------+----------------+-------------------+-----------------+
|Earnings per share|           -0.04|              -0.13|            -0.30|
|(DKK)             |                |                   |                 |
+------------------+----------------+-------------------+-----------------+
|No. of shares     |59,384,318      |28,747,024         |28,747,024       |
|beginning of the  |                |                   |                 |
|period            |                |                   |                 |
+------------------+----------------+-------------------+-----------------+
|No. of shares end |69,384,318      |28,747,024         |59,384,318       |
|of period         |                |                   |                 |
+------------------+----------------+-------------------+-----------------+
|Average number of |64,384,318      |28,747,024         |44,065,671       |
|shares            |                |                   |                 |
+------------------+----------------+-------------------+-----------------+
Highlights Q1 2024
Minor sales revenue generated in Q1 2024 of TDKK 15 as product orders and deliveries to China and orders from Japan will take place after the end of Q1 2024.
Audientes announced on January 12, 2024, an additional area in its business, namely software platform-licensing for OEMs and brands, focused on creating excellent and affordable offerings that in turn will help people around the world hear better, which is Audientes core mission. Over time, software platform licensing is expected to become a significant part of the Company's business. 
The Company announced also on January 12, 2024, that it is aiming at introducing a new hearing aid product in the more classic type called "Behind-the Ear" (BTE) in the "Receiver in Canal" style (RIC), using the Audientes app and software platform, co-developed and manufactured with a partner. This design is now released publicly as part of its initial customer marketing efforts.
Audientes officially established a subsidiary in Japan on February 22, 2024, Audientes Company Limited, in which it has a majority shareholding (60%). 
Part of existing convertible loans totalling TDKK 1,000 were converted into equity and new shares issued. Convertible loans were consequently lowered to DKK 3.7 million, excluding pre-subscription loan agreements of DKK 0.2 million from Management.
Highlights after Q1 2024
Shenzhen Hengtong Partner Company Ltd. and Audientes announced on April 3, 2024, plans to establish a joint venture in China to accelerate the availability of products for the Chinese and other markets, by shortening development, approvals and manufacturing time.
On the extraordinary general meeting held April 29, 2024, it was resolved to reduce the nominal value per share from DKK 0.1 to DKK 0.01.
At the same meeting, it was also resolved to reduce the share capital in Audientes A/S by a nominal amount of TDKK 6,245 from TDKK 6,939 to TDKK 694. This reduction was aimed at reducing deficits as reported.
On May 14, 2024, Audientes announced that the board of directors had resolved on an issue of shares with pre-emptive rights for existing shareholders (the "Rights Issue"), for which the subscription period started on May 22, 2024, and will be open for subscription until June 4, 2024.  
       The Rights Issue can initially provide Audientes with approx. DKK 4.9 million (if fully subscribed) before transaction related costs of approx. DKK 0.8 million.
       Approximately 26 percent of the Rights Issue, corresponding to approximately DKK 1.3 million, is covered by pre-subscription commitments.
Outlook 2024
Market introduction in Japan and in China of the individually localized Companion products expected to take place at the end of Q2 2024.
The revenue of pre-paid products for the Chinese distributor Shenzhen Hengtong Partner Company Ltd. of around DKK 0.6 million are expected to be recognized in Q2 2024.
The Company aim to sell an estimated 5,000-6,000 units of its Companion and Ven products in 2024, distributed amongst the primary markets of India, Japan, and China, with a minor number in Europe and Rest of the World.
This would equate to sales revenue in the range of DKK 5-6 million.
The operating result (EBITDA) for the financial year 2024 would be in the range of DKK -3.5 to -4.5 million.
Financial calendar
The Company's financial calendar is unchanged, as follows:
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|Date             |Event                          |
+-----------------+-------------------------------+
|August 29, 2024  |Q2 / half-year 2024 reporting  |
+-----------------+-------------------------------+
|November 21, 2024|Q3 2024 reporting              |
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|February 26, 2025|Q4 / end of year 2024 reporting|
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For further information, please contact:
Steen Thygesen,CEO, Audientes A/S
Phone: ‭+45 77 34 16 80‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬
Email:st@audientes.com
About Audientes A/S
Audientes A/S is a Danish hearing health company specializing in smart, self-fitting and affordable hearing aids and advanced hearables. Audientes' unique hearing aid solution, Ven™ by Audientes, is available for purchase in the Indian and Nepalese markets and will be introduced in other markets in the coming years. Companion by Audientes is an advanced hearable, a consumer electronics product, that is commercially available in Europe and later in 2024 in Japan, China, and other markets.
Audientes' mission is to make high-quality hearing aids and hearables for hearing improvement or hearing enhancement accessible to everyone who needs them globally. Audientes is listed on Spotlight Stock Market Denmark (AUDNTS) and headquartered in Copenhagen, Denmark with subsidiaries in Hyderabad, India and in Tokyo, Japan.
For additional information please refer to the company's websites, www.audientes.com, www.audientes.eu or www.audientes.in.